The tax evasion trial involving Binance and two of its executives has been adjourned to May 17, 2024 in a Nigerian court due to a delay in formally serving the charges to Binance. The Federal Inland Revenue Service (FIRS) has not yet served Binance with tax evasion charges, leading to the delay in proceedings.
Binance and its executives, including Tigran Gambaryan and Nadeem Anjarwalla, were arrested on Feb. 28 and charged with tax evasion during a visit to Nigeria. The charges stem from Binance’s failure to register with Nigeria’s FIRS for tax remittance. Anjarwalla was not present in court as he had left the country in March 2024.
In addition to the tax evasion trial, Binance and its executives face charges of laundering over $35 million by Nigeria’s anti-graft agency. The trial is set to resume on May 2.
Binance, which was not represented in court, stated at a crypto conference in Dubai that it is cooperating with Nigerian authorities following Gambaryan’s detention. Meanwhile, Gambaryan is suing the government for violating his fundamental human rights, claiming that his detention and passport confiscation violate Nigeria’s constitution.
As the case unfolds, it will likely impact Binance’s operations in Nigeria and shape future regulations governing cryptocurrency exchanges in the country.
